Interest Rates Slashed, Pound Slides

Pound slides as the Bank of England slash interest rates and adds further funding.

The Bank of England as expected cut interest rates for the first time in seven years to a historic low of 0.25%. It is also investing a further £60bn in its quantitative easing programme, bringing the total up to £435bn. The Monetary Policy Committee (MPC) voted to reduce interest rates from 0.5% in an attempt to stimulate the economy following the UK’s decision to leave the European Union. It is the first change to interest rates since the height of the financial crisis in March 2009.

These measures are more than expected and as a result, the pound has lost over 1% versus the Euro and Dollar thus far.

If you follow us on Facebook, Twitter or other social media you would have seen us flag this up so hopefully you were able to buy your euros earlier today, if not then perhaps now before the pound slides further.

To find out how this could affect you, contact our dedicated currency market expert Ben Amrany from FC Exchange follow this link or phone and ask for him and quote "Cle France" on 020 7989 0000.

Thursday 4th August at 11:45 - £1.00 GBP = 1.1978 EUR

Thursday 4th August at 14:30 - £1.00 GBP = 1.1789 EUR

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.